The Federal Board of Revenue’s provisional revenue collection stood at Rs1,337 billion during July-October (2020-21) against the assigned target of Rs1,322 billion for the first four months of the current fiscal year, reflecting an increase of Rs15 billion. According to the updated data of provisional revenue collection figures compiled by the FBR here on Monday, the FBR has collected taxes of Rs333 billion during October 2020 against the monthly target of Rs352 billion, reflecting a shortfall of Rs19 billion. According to the FBR, it has collected Rs1,337 billion net revenue…
Read MoreYear: 2020
Pakistan seeks to reform int’l investment regime
ISLAMABAD: Prime Minister Imran Khan has approved the formation of a working group of experts for reforming Pakistan’s international investment regime. The group, an initiative of Special Assistant to the Prime Minister (SAPM) on National Security Moeed Yusuf, is to “conduct analysis through intellectual input and undertake original research’ for the Strategic Policy Planning Cell,” according to a notification to be published in the Gazette of Pakistan. The 15-member team comprises several serving and former state officials, including SAPM on Finance Waqar Masood Khan, former Board of Investment (BOI) chairman…
Read MoreIMF insisting on contractionary policies
ISLAMABAD: With the International Monetary Fund (IMF) reportedly insisting on politically challenging contractionary monetary and fiscal policies as prior second tranche release conditions, the Khan administration appears to be caught between a rock and a hard place. Sources on condition of anonymity told this newspaper that negotiations with the Fund for the resumption of the stalled extended Fund facility include: (i) an increase in the policy rate by 200 to 300 basis points, a decision that may choke off all economic activity like in the previous year; and (ii) a…
Read MoreCPI inflation up 1.70pc MoM
The Cons-umer Price Index-based inflation of October 2020 increased by 1.70 percent over September 2020, and increased by 8.91 percent over corresponding month of the last year i.e. October 2019 as a result of increase in food items including sugar, pulses, chicken, and wheat flour. According to the data released by the Pakistan Bureau of Statistics (PBS) month-on-month basis, the top few commodities, which contributed to inflation include tomatoes (48.36 percent), onions (39.07 percent), chicken (26.62 percent), eggs (23.81 percent), wheat (8.39 percent), wheat products (8.07 percent), sugar (4.58 percent),…
Read MoreTHE RUPEE: Gains continue to grow
On Monday, on market close, PKR continued to gain value. It went up against USD in both interbank and open markets. It also gained value against Euro, AED and SR in open market. INTER-BANK MARKET RATES: In the interbank market, on market close, Pakistan Rupee gained 20 paisas for buying and 15 paisas for selling against USD over last Thursday’s rates closing at 160 and 160.10 respectively. OPEN MARKET RATES: In the open market, PKR gained 60 paisas for buying and 40 paisas for selling over last Thursday’s rates closing…
Read More
